Anthony Tomažin, whose company Terra Australis owns several bars and restaurants in Ljubljana and the IT firm RRC, signed a contract with investment firm KD Kapital on the acquisition of a 51% in Žičnice Vogel on Monday.

Tomažin, who confirmed the deal for the STA, has already made a 10% down payment for the transaction and is expected to make the full payment in November. The value of the transaction has not been revealed.

The Australian businessman of Slovenian descent announced he would unveil plans for the legendary Slovenian ski resort nestled in the Julian Alps when he completes the acquisition.

He sees the resort as having extensive potential with both winter and summer tourism.

KD Group sold its majority stake in the Vogel ski slope operator as part of a strategy of divesting non-core assets.

The announcement of the sale was welcomed by chairman of Žičnice Vogel Boštjan Mencinger, who hopes the arrival of a buyer will end months of uncertainty about the future of the company.

Vogel requires a financially strong owner to provide it with the necessary backing and transform it into a modern ski centre with sufficient artificial snow capacities at least in the lower section of the slopes.

"We expect of the new owner to inject some capital so that we can carry out the planned investments as soon as possible," said Mencinger.

The ski operator has been profitable in recent years, generating EUR 3.3m in revenues and a net profit of EUR 180,000 last year.